Unleashing the Power of AI for Financial Institutions with Snowflake and Amazon Web Services

Financial institutions are among the largest users of AI, deploying it for a range of use cases that, while already wide, will broaden in the future. A report by the International Monetary Fund has forecast that institutional spending on AI will surge 29% to US$97 billion by 2027.

The technology has become crucial to automation processes, saving money and streamlining operations as well as overseeing cybersecurity and research activities. Importantly, it is also becoming an important tool for regulatory compliance.

The successful application of AI, however, will depend on the quality of the data that feeds it. AI requires vast amounts of data and managing those rising volumes is a task that’s beyond the capabilities of all but the largest organisations. Without it the full benefits of AI cannot be realised.

That can be achieved with a robust cloud-based data management strategy, like the one Snowflake is offering scores of institutions.

This white paper will:

• Explain how AI can improve outcomes for financial institutions
• Examine how AI can be applied to regulatory compliance processes
• Discuss why data is so important to getting AI right
• Show how the Amazon Web Services cloud is the ideal meeting place for AI, the data it requires and the management of it
• Explain how Snowflake Data Cloud Solutions and Amazon Web Services (AWS), together, can optimise institutions’ data management for AI.